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AI Analysis of HNNA
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Red day on Friday for Hennessy Advisors stock after losing 2.51%
(Updated on May 03, 2024)

Hold candidate since Apr 29, 2024 PDF

The Hennessy Advisors stock price fell by -2.51% on the last day (Friday, 3rd May 2024) from $6.98 to $6.80. During the last trading day the stock fluctuated 6.66% from a day low at $6.61 to a day high of $7.05. The price has been going up and down for this period, and there has been a -1.23% loss for the last 2 weeks. Volume has increased on the last day by 15 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 15 thousand shares were bought and sold for approximately $99.98 thousand.

The stock lies in the lower part of a weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $6.73 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 4.71% during the next 3 months and, with a 90% probability hold a price between $7.05 and $7.56 at the end of this 3-month period.

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HNNA Signals & Forecast

A buy signal was issued from a pivot bottom point on Thursday, April 25, 2024, and so far it has risen 1.49%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Hennessy Advisors stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $6.84 and $6.89. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Hennessy Advisors gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Hennessy Advisors stock

Hennessy Advisors finds support from accumulated volume at $6.75 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.440 (6.66%) between high and low. For the last week, the stock has had daily average volatility of 2.49%.

Our recommended stop-loss: $6.48 (-4.72%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 6 days ago.)

Trading Expectations (HNNA) For The Upcoming Trading Day Of Monday 6th

For the upcoming trading day on Monday, 6th we expect Hennessy Advisors to open at $6.82, and during the day (based on 14 day Average True Range), to move between $6.64 and $6.96, which gives a possible trading interval of +/-$0.156 (+/-2.29%) up or down from last closing price. If Hennessy Advisors takes out the full calculated possible swing range there will be an estimated 4.58% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $6.84 (0.60%) than the support at $6.75 (0.74%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Earnings coming up

Hennessy Advisors will release earnings BMO on Wednesday, May 08, 2024. We will update the financials statements for Hennessy Advisors, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 3.33% in the first trading day after earnings release.

Is Hennessy Advisors stock A Buy?

Hennessy Advisors holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: 0.000 Hold/Accumulate Unchanged

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for Hennessy Advisors of Monday, May 6, 2024

Fair opening price May 6, 2024 Current price
$6.82 ( 0.294%) $6.80

The predicted opening price is based on yesterday's movements between high, low, and closing price.

Trading levels for HNNA

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 7.26 6.76 %
R2 7.09 4.29 %
R1 6.99 2.77 %
Current price: 6.80
Support S1 6.65 -2.18 %
S2 6.55 -3.70 %
S3 6.38 -6.18 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 6.92 1.69 %
R2 6.89 1.25 %
R1 6.84 0.603 %
Current price 6.80
Support S1 6.75 -0.735%
S2 6.70 -1.47%
S3 6.60 -2.94%

HNNA Dividend Payout History


# Declaration Date Ex-Date Pay Date Amount Yield
1 Feb 16, 2024 Feb 16, 2024 Mar 04, 2024 $0.138 2.04%
2 Oct 26, 2023 Nov 10, 2023 Nov 27, 2023 $0.140 2.18%
3 Nov 09, 2023 Nov 09, 2023 Nov 09, 2023 $0 0%
4 Aug 02, 2023 Aug 22, 2023 Sep 06, 2023 $0.138 2.05%
5 May 10, 2023 May 22, 2023 Sep 06, 2023 $0.138 2.06%

FAQ

What is the symbol for Hennessy Advisors Stock and on which exchange is it traded?
The symbol for Hennessy Advisors is HNNA and it is traded on the OTCMKTS (OTC Markets Group).

Should I buy or sell Hennessy Advisors Stock?
Hennessy Advisors holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

How to buy Hennessy Advisors Stock?
Hennessy Advisors Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Hennessy Advisors Stock.

What's the current price of Hennessy Advisors Stock?
As of the end of day on the May 03, 2024, the price of an Hennessy Advisors (HNNA) share was $6.80.

What is the 52-week high and low for Hennessy Advisors Stock?
The 52-week high for Hennessy Advisors Stock is $7.68 and the 52-week low is $6.33.

What is the market capitalization of Hennessy Advisors Stock?
As of the May 03, 2024, the market capitalization of Hennessy Advisors is 52.192M.

When is the next earnings date for Hennessy Advisors?
The upcoming earnings date for Hennessy Advisors is May 08, 2024.
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About Hennessy Advisors

Hennessy Advisors Hennessy Advisors, Inc. is publicly owned investment manager. It provides its services to Hennessy Funds and investment companies. The firm launches and manages equity, fixed income, and balanced mutual funds. It invests in the public equity and fixed income markets across the globe. The firm primarily invests in growth stocks of companies. It conducts in-house research to make its investments. Hennessy Advisors, Inc. was founded in 1989 and is b... HNNA Profile

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